# What Are Mineral Rights Worth in New Mexico? (2026) > How New Mexico mineral rights and royalties are actually valued: producing versus non-producing, what the current rigs and permits do to the number, which counties are active right now, and the math a buyer should show you. From a buyer. Source: https://www.berlinroyalties.com/mineral-rights-value/new-mexico/ Publisher: Berlin Royalties, a veteran-owned oil and gas mineral and royalty buyer in Tulsa, Oklahoma, buying for its own account since 2014. Call or text 918-984-1645. License: free to quote and cite with attribution to Berlin Royalties and a link to the source URL. Value · New Mexico · Updated 2026-11-02 ## What are mineral rights worth in New Mexico? Not a number per acre. The honest answer for New Mexico depends on whether your interest produces, what the wells around it are doing this quarter, and what the state's law lets a buyer deduct. Here is how we value New Mexico minerals when we buy them, with this month's activity, so you can check anyone's offer, including ours. [Run the Calculator](https://www.berlinroyalties.com/mineral-rights-value-calculator/) [Text a Check Stub](https://www.berlinroyalties.com/text-your-check/) Updated 2026-11-02 with Enverus activity. Written by [Stephen Clayman](https://www.berlinroyalties.com/stephen-clayman/), career landman and owner of Berlin Royalties, a buyer in New Mexico. Read it knowing that. **Information only, not an offer.** Nothing on this page is a price, a quote, or a commitment to buy at any level. It explains how New Mexico minerals are generally valued so you can judge offers. A real offer, ours or anyone's, is built from the specific wells, title, decimal, and market on the day it is made, and it can be higher or lower than anything this page might lead you to expect. ## What are mineral rights worth in New Mexico, in one paragraph? A producing New Mexico royalty is worth a multiple of what it pays, set by how fast the wells are declining and what gas and oil are expected to sell for: commonly expressed as some number of years of current checks, lower for mature wells and higher for young ones, and only a tract-specific valuation says which. Non-producing New Mexico minerals are worth what the drilling around them makes likely, which ranges from nearly nothing in a quiet county to thousands of dollars an acre ahead of active rigs. Any offer that does not say which of those it is pricing is a guess. ## What is being drilled in New Mexico right now From Enverus, as of 2026-11-02: **86** active rigs in New Mexico, **968** drilling permits approved in the last 90 days, and **283** wells reporting first production in the last 90 days. That is heavy activity, which means non-producing acreage in the right counties carries real location value and producing interests near those rigs can gain undrilled locations that a cash-flow-only offer will miss. ## Which New Mexico counties carry location value this quarter **Rigs running now:** [Eddy County](https://www.berlinroyalties.com/new-mexico/eddy-county/) (40 rigs, 441 permits), [Lea County](https://www.berlinroyalties.com/new-mexico/lea-county/) (46 rigs, 527 permits). **Quiet this quarter** (producing interests valued on cash flow; non-producing acreage priced conservatively): [Chaves County](https://www.berlinroyalties.com/new-mexico/chaves-county/), [Colfax County](https://www.berlinroyalties.com/new-mexico/colfax-county/), [Harding County](https://www.berlinroyalties.com/new-mexico/harding-county/), [McKinley County](https://www.berlinroyalties.com/new-mexico/mckinley-county/), [Rio Arriba County](https://www.berlinroyalties.com/new-mexico/rio-arriba-county/), [Roosevelt County](https://www.berlinroyalties.com/new-mexico/roosevelt-county/), [San Juan County](https://www.berlinroyalties.com/new-mexico/san-juan-county/), [Sandoval County](https://www.berlinroyalties.com/new-mexico/sandoval-county/), [Union County](https://www.berlinroyalties.com/new-mexico/union-county/). Each county page carries its own counts, formations, and the operators permitting there. ## How we value a producing New Mexico royalty Start with the checks: the last twelve months of statements, or a single stub, which carries the operator, your decimal, and the property. Pull the wells in the unit from public records and Enverus, fit a decline to their production history, apply a price deck, discount the stream, and add a risked value for any undrilled locations the operator's permits suggest. Then subtract what the law allows to come out first: severance tax, and for New Mexico the payment rules under NMSA §§ 70-10-3, 70-10-4, 70-10-5. The method, with a worked example, is on our [valuation methodology page](https://www.berlinroyalties.com/research/mineral-valuation-methodology/), and the [value calculator](https://www.berlinroyalties.com/mineral-rights-value-calculator/) runs the lump-sum-versus-hold comparison on your own numbers. ## How we value non-producing New Mexico minerals Off the map, not off a formula. The questions are: is the tract inside an active unit or a permitted one, what did the nearest wells make in their first year, how many undrilled locations the spacing allows, and how likely the operator is to drill them in the next few years given its rig count and its permits. A tract three miles from a rig in New Mexico is a different asset from a tract three miles from nothing, and the price difference is a multiple, not a percentage. Our [non-producing minerals page](https://www.berlinroyalties.com/who-buys-non-producing-mineral-rights/) walks through it. ## Who is running the wells that set New Mexico values By producing well count: [HILCORP](https://www.berlinroyalties.com/operators/company/hilcorp/), [DEVON](https://www.berlinroyalties.com/operators/company/devon/), [EOG](https://www.berlinroyalties.com/operators/company/eog/), [MACH NATURAL RESOURCES LP](https://www.berlinroyalties.com/operators/company/mach-natural-resources-lp/), [MEWBOURNE OIL](https://www.berlinroyalties.com/operators/company/mewbourne-oil/), [OCCIDENTAL](https://www.berlinroyalties.com/operators/company/occidental/). The operator on your check is not offering to buy your minerals, but its permits and its rig count are the best public signal of what your acreage is worth next year. ## What New Mexico law does to the number - **Payment timing:** first payment due 6 months after first sale, then 45 days after month payor is paid for oil and 45 days after month payor is paid for gas. - **Late payment interest:** 18% per year penalty. Funds properly in suspense: Dallas Fed discount plus 1.5%. - **Forced pooling:** Yes, Oil Conservation Division. See [deadlines by state](https://www.berlinroyalties.com/pooling-deadlines-by-state/). - **Statute:** NMSA §§ 70-10-3, 70-10-4, 70-10-5. Full detail on [royalty payment laws by state](https://www.berlinroyalties.com/royalty-payment-laws/). ## The New Mexico price-per-acre question People ask for a price per acre because that is how land sells. Minerals do not sell that way, and the per-acre figures that circulate online are averages of unlike things: a producing Haynesville royalty and a quiet tract of the same size can differ by a hundredfold. We will give you a per-acre number for your tract, with the wells and the permits it came from, free. We will not give you one for New Mexico, because there is no such number. ## How to check any New Mexico offer - Ask which wells, what decline, and what price deck the number assumes. A buyer who did the work can answer in a paragraph. - Compare the implied multiple of your annual checks against the [offer checker](https://www.berlinroyalties.com/offer-checker/). - Check the buyer in the county records: see [who buys mineral rights in New Mexico](https://www.berlinroyalties.com/who-buys-mineral-rights/new-mexico/). - Read [when not to sell](https://www.berlinroyalties.com/when-not-to-sell/) before you sign anything. ### Want the actual number for your New Mexico minerals? Text a photo of a check stub or a deed to [918-984-1645](tel:9189841645), or send the county and a legal description. You will get a written number within two business days with the wells, the decline, and the price deck it came from, and it holds for 7 days while you check it against anyone else's. Free, and the same answer whether or not you sell. [Get a Free Valuation](https://www.berlinroyalties.com/free-valuation/) [How the Preliminary Offer Works](https://www.berlinroyalties.com/preliminary-offer/) ## Related - [Sell New Mexico mineral rights](https://www.berlinroyalties.com/new-mexico/), the state page with counties and formations - [How mineral rights are valued](https://www.berlinroyalties.com/mineral-rights-value/) and the [methodology with a worked example](https://www.berlinroyalties.com/research/mineral-valuation-methodology/) - [Mineral rights value calculator](https://www.berlinroyalties.com/mineral-rights-value-calculator/) and [royalty decimal calculator](https://www.berlinroyalties.com/royalty-decimal-calculator/) - [Inherited mineral rights](https://www.berlinroyalties.com/inherited-mineral-rights/) and [unclaimed royalties](https://www.berlinroyalties.com/unclaimed-royalties/) Rig, permit, completion and operator counts are from Enverus as of 2026-11-02. Berlin Royalties is the trade name of Berlin Resources LLC, a mineral buyer and landman shop in Tulsa, and a potential counterparty to any sale you make, which is why we would rather you checked the arithmetic than took our word. This page is general information, not an offer, an appraisal, or legal or tax advice; any offer we make is a separate written document and may differ from anything described here.